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Chinese banks to expand to City of London

According to latest reports from EG, City of London office space is to be given a boost by an influx of Chinese banks opening office headquarters there.

Shanghai Puodong development is due to move to Angel Court, EC2. It has chosen an 8,500 sq ft top floor in the 24 storey tower, where rents can reach £85 per sq ft. According to the report, this is likely to be the start of a new trend of Chinese banks and financial services firms moving to City of London offices.